Symbols / FTEK $1.22 +2.52% Fuel Tech, Inc.

Industrials • Pollution & Treatment Controls • United States • NCM
FTEK Chart
About

Fuel Tech, Inc. engages in the development, commercialization, and application of technologies for air pollution control, process optimization, water treatment, and advanced engineering services to utility and industrial customers in the United States, rest of the Americas, Europe, South Africa, the Pacific Rim, and internationally. The Air Pollution Control Technology segment offers technologies to reduce nitrogen oxide emissions (NOx) in flue gas from boilers, incinerators, furnaces, and other stationary combustion sources; NOxOUT selected non-catalytic reduction and selected catalytic reduction systems, including ammonia injection grid and graduated straightening grid systems; electrostatic precipitator processes and services; ULTRA technology; urea direct injection systems; and flue gas conditioning systems. Its FUEL CHEM Technology segment provides chemical injection programs to improve the efficiency, reliability, fuel flexibility, boiler heat rate, and environmental status of combustion units for the control of slagging, fouling, corrosion, opacity, and acid plume, as well as the formation of sulfur trioxide, ammonium bisulfate, particulate matter, sulfur dioxide, and carbon dioxide through the addition of chemicals into the furnace using targeted in-furnace injection technology. This segment also offers its FUEL CHEM program for plants operating in the electric utility, industrial, pulp and paper, waste-to-energy, and university and district heating markets; and the owners of boilers, furnaces, and other combustion units for treating a wide variety of solid and liquid fuels, including coal, heavy oil, black liquor, biomass, and municipal waste. In addition, the company provides dissolved gas infusion systems, which utilize a proprietary channel injector and a patented saturator that infuses oxygen, carbon dioxide, or other gases into water; and visualization software. Fuel Tech, Inc. was incorporated in 1987 and is headquartered in Warrenville, Illinois.

Fundamentals
Scroll to Statements
Sector Industrials Industry Pollution & Treatment Co Market Cap 37.46M
Enterprise Value 13.28M Income -2.32M Sales 26.68M
Book/sh 1.28 Cash/sh 0.81 Dividend Yield —
Payout 0.00% Employees 77 IPO —
P/E — Forward P/E -24.40 PEG —
P/S 1.40 P/B 0.95 P/C —
EV/EBITDA -4.45 EV/Sales 0.50 Quick Ratio 4.82
Current Ratio 5.09 Debt/Eq 1.45 LT Debt/Eq —
EPS (ttm) -0.08 EPS next Y -0.05 EPS Growth —
Revenue Growth 37.20% Earnings 2026-05-11 ROA -4.79%
ROE -5.68% ROIC — Gross Margin 46.42%
Oper. Margin -19.66% Profit Margin -8.71% Shs Outstand 30.71M
Shs Float 23.27M Short Float 0.43% Short Ratio 0.48
Short Interest — 52W High 3.65 52W Low 0.91
Beta 1.09 Avg Volume 176.12K Volume 148.45K
Target Price $4.00 Recom None Prev Close $1.19
Price $1.22 Change 2.52%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$4.00
Mean price target
2. Current target
$1.22
Latest analyst target
3. DCF / Fair value
$1.36
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$1.22
Low
$4.00
High
$4.00
Mean
$4.00

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2024-05-09 reit HC Wainwright & Co. Buy → Buy $4
2024-03-13 reit HC Wainwright & Co. Buy → Buy $4
2023-08-10 reit HC Wainwright & Co. Buy → Buy $4
2021-11-11 up HC Wainwright & Co. Neutral → Buy $4
2020-03-13 down HC Wainwright & Co. Buy → Neutral —
2018-12-10 init HC Wainwright & Co. — → Buy $2
2014-11-10 main Canaccord Genuity — → Hold $5
2013-05-09 down Sidoti & Co. Buy → Neutral —
2012-08-29 main Brean Capital — → Buy $6
2012-08-08 main Canaccord Genuity — → Hold $6
2012-03-05 main Canaccord Genuity — → Hold $7
News
RSS: Latest FTEK news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-06 ARNONE VINCENT J Chief Executive Officer — 10,000 $1.24 $12,400
2025-06-04 JONES SHARON L. Director — 12,627 $1.67 $21,043
2025-03-28 ARNONE VINCENT J Chief Executive Officer — 15,000 $1.05 $15,750
2024-11-19 JONES SHARON L. Director — 8,014 $1.08 $8,656
2024-11-18 JONES SHARON L. Director — 14,000 $1.05 $14,700
2024-11-14 JONES SHARON L. Director — 25,800 $1.02 $26,733
2024-09-12 ARNONE VINCENT J Chief Executive Officer — 20,000 $1.02 $20,400
2024-09-12 ALBRECHT ELLEN T. Chief Financial Officer — 5,000 $1.01 $5,050
2024-08-28 JONES SHARON L. Director — 3,293 $1.00 $3,309
2024-08-12 JONES SHARON L. Director — 447 $1.00 $449
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
26.68
+6.14%
25.13
-7.19%
27.08
+0.52%
26.94
Operating Revenue
26.68
+6.14%
25.13
-7.19%
27.08
+0.52%
26.94
Cost Of Revenue
14.29
-1.49%
14.51
-5.93%
15.43
+0.83%
15.30
Reconciled Cost Of Revenue
14.29
-1.49%
14.51
-5.93%
15.43
+0.83%
15.30
Gross Profit
12.38
+16.57%
10.62
-8.86%
11.66
+0.11%
11.64
Operating Expense
16.06
+4.82%
15.32
+7.06%
14.31
+8.69%
13.17
Research And Development
2.01
+28.77%
1.56
+3.51%
1.51
+68.83%
0.90
Selling General And Administration
14.05
+2.10%
13.76
+7.48%
12.80
+4.30%
12.28
Total Expenses
30.36
+1.75%
29.84
+0.32%
29.74
+4.46%
28.47
Operating Income
-3.68
+21.71%
-4.70
-76.90%
-2.66
-74.07%
-1.53
Total Operating Income As Reported
-3.68
+21.71%
-4.70
-76.90%
-2.66
-74.07%
-1.53
EBITDA
-2.98
+29.70%
-4.24
-283.54%
-1.11
-18.80%
-0.93
Normalized EBITDA
-2.98
+29.70%
-4.24
-283.54%
-1.11
-18.80%
-0.93
Reconciled Depreciation
0.70
+51.96%
0.46
+34.50%
0.34
-22.27%
0.44
EBIT
-3.68
+21.71%
-4.70
-224.72%
-1.45
-5.62%
-1.37
Total Unusual Items
—
—
—
—
Total Unusual Items Excluding Goodwill
—
—
—
—
Special Income Charges
—
—
—
—
Impairment Of Capital Assets
—
—
—
—
Net Income
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Pretax Income
-2.31
-23.74%
-1.87
-27.03%
-1.47
-5.84%
-1.39
Net Non Operating Interest Income Expense
1.42
+13.11%
1.25
-2.19%
1.28
+591.35%
0.18
Interest Expense Non Operating
—
0.00
-100.00%
0.02
+23.53%
0.02
Net Interest Income
1.42
+13.11%
1.25
-2.19%
1.28
+591.35%
0.18
Interest Expense
—
0.00
-100.00%
0.02
+23.53%
0.02
Interest Income Non Operating
1.42
+13.11%
1.25
-3.77%
1.30
+543.56%
0.20
Interest Income
1.42
+13.11%
1.25
-3.77%
1.30
+543.56%
0.20
Other Income Expense
-0.04
-102.71%
1.58
+1861.11%
-0.09
-95.65%
-0.05
Other Non Operating Income Expenses
-0.04
-102.71%
1.58
+1861.11%
-0.09
-95.65%
-0.05
Tax Provision
0.01
-80.52%
0.08
+11.59%
0.07
+27.78%
0.05
Tax Rate For Calcs
0.00
+0.00%
0.00
+0.00%
0.00
+0.00%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Net Income From Continuing Operation Net Minority Interest
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Net Income From Continuing And Discontinued Operation
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Net Income Continuous Operations
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Normalized Income
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Net Income Common Stockholders
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Diluted EPS
-0.08
-33.33%
-0.06
-20.00%
-0.05
+0.00%
-0.05
Basic EPS
-0.08
-33.33%
-0.06
-20.00%
-0.05
+0.00%
-0.05
Basic Average Shares
30.94
+1.19%
30.57
+0.74%
30.35
+0.19%
30.29
Diluted Average Shares
30.94
+1.19%
30.57
+0.74%
30.35
+0.19%
30.29
Diluted NI Availto Com Stockholders
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
47.18
-3.32%
48.80
-3.16%
50.39
+0.53%
50.12
Current Assets
31.94
+7.85%
29.62
-22.71%
38.32
+6.97%
35.83
Cash Cash Equivalents And Short Term Investments
24.88
+33.10%
18.69
-37.09%
29.71
+12.94%
26.31
Cash And Cash Equivalents
11.94
+40.29%
8.51
-51.59%
17.58
-24.65%
23.33
Cash Equivalents
—
—
5.08
-52.80%
10.77
Cash Financial
—
—
12.49
-0.52%
12.56
Other Short Term Investments
12.94
+27.08%
10.18
-16.08%
12.14
+307.11%
2.98
Receivables
5.36
-42.84%
9.37
+39.22%
6.73
-12.94%
7.73
Accounts Receivable
4.49
-16.39%
5.38
+25.00%
4.30
-6.62%
4.61
Receivables Adjustments Allowances
-0.11
-1.89%
-0.11
+4.50%
-0.11
-0.91%
-0.11
Other Receivables
0.97
-76.36%
4.10
+61.38%
2.54
-21.46%
3.23
Inventory
0.37
-6.05%
0.40
-9.57%
0.44
+11.99%
0.39
Raw Materials
0.20
-10.86%
0.22
-4.74%
0.23
—
Finished Goods
0.18
+0.00%
0.18
-14.98%
0.21
—
Prepaid Assets
—
—
—
—
Restricted Cash
—
—
—
0.00
Other Current Assets
1.33
+15.09%
1.16
-19.39%
1.44
+3.15%
1.40
Total Non Current Assets
15.23
-20.56%
19.18
+58.93%
12.07
-15.61%
14.30
Net PPE
5.28
-6.95%
5.67
+10.12%
5.15
+11.14%
4.63
Gross PPE
24.71
+0.33%
24.63
+3.25%
23.85
+2.85%
23.19
Accumulated Depreciation
-19.43
-2.51%
-18.96
-1.36%
-18.70
-0.79%
-18.56
Properties
0.00
0.00
0.00
0.00
Land And Improvements
1.05
+0.00%
1.05
+0.00%
1.05
+0.00%
1.05
Buildings And Improvements
6.65
+0.41%
6.63
+0.33%
6.61
+0.44%
6.58
Machinery Furniture Equipment
3.41
+1.58%
3.36
-0.86%
3.39
-1.94%
3.46
Construction In Progress
0.02
+850.00%
0.00
-97.98%
0.10
+241.38%
0.03
Other Properties
13.57
-0.12%
13.59
+6.92%
12.71
+5.22%
12.08
Goodwill And Other Intangible Assets
2.76
+13.06%
2.44
-1.25%
2.47
-1.55%
2.51
Goodwill
2.12
+0.00%
2.12
+0.00%
2.12
+0.00%
2.12
Other Intangible Assets
0.65
+97.55%
0.33
-8.66%
0.36
-9.82%
0.40
Investments And Advances
6.99
-35.71%
10.88
+196.81%
3.66
-42.39%
6.36
Other Non Current Assets
0.21
+8.38%
0.19
-75.54%
0.78
-1.64%
0.79
Total Liabilities Net Minority Interest
7.25
+5.92%
6.84
+2.52%
6.67
+26.33%
5.28
Current Liabilities
6.27
+7.14%
5.86
+2.94%
5.69
+19.35%
4.77
Payables And Accrued Expenses
3.60
+9.42%
3.29
+16.92%
2.81
-3.96%
2.93
Payables
3.24
+11.22%
2.92
+20.40%
2.42
-10.66%
2.71
Accounts Payable
3.24
+11.22%
2.92
+20.40%
2.42
-10.66%
2.71
Current Accrued Expenses
0.36
-4.53%
0.38
-4.58%
0.39
+78.64%
0.22
Pensionand Other Post Retirement Benefit Plans Current
1.31
+4.81%
1.25
-0.32%
1.25
+13.30%
1.10
Current Debt And Capital Lease Obligation
0.09
+15.58%
0.08
-4.94%
0.08
-35.20%
0.12
Current Capital Lease Obligation
0.09
+15.58%
0.08
-4.94%
0.08
-35.20%
0.12
Current Deferred Liabilities
1.12
+3.33%
1.08
-21.78%
1.38
+209.17%
0.45
Current Deferred Revenue
1.12
+3.33%
1.08
-21.78%
1.38
+209.17%
0.45
Total Non Current Liabilities Net Minority Interest
0.97
-1.32%
0.99
+0.10%
0.99
+90.72%
0.52
Long Term Debt And Capital Lease Obligation
0.49
-10.40%
0.55
+2.81%
0.53
+707.58%
0.07
Long Term Capital Lease Obligation
0.49
-10.40%
0.55
+2.81%
0.53
+707.58%
0.07
Non Current Deferred Liabilities
0.19
+6.25%
0.18
+2.33%
0.17
-2.82%
0.18
Non Current Deferred Taxes Liabilities
0.19
+6.25%
0.18
+2.33%
0.17
-2.82%
0.18
Other Non Current Liabilities
0.30
+12.55%
0.26
-6.41%
0.28
+2.55%
0.27
Stockholders Equity
39.93
-4.82%
41.95
-4.02%
43.71
-2.51%
44.84
Common Stock Equity
39.93
-4.82%
41.95
-4.02%
43.71
-2.51%
44.84
Capital Stock
0.32
+1.58%
0.32
+1.28%
0.31
+0.00%
0.31
Common Stock
0.32
+1.58%
0.32
+1.28%
0.31
+0.00%
0.31
Share Issued
32.28
+1.62%
31.77
+1.29%
31.36
+0.28%
31.27
Ordinary Shares Number
31.07
+1.19%
30.71
+1.06%
30.39
+0.29%
30.30
Treasury Shares Number
1.21
+13.94%
1.06
+8.51%
0.98
+0.00%
0.98
Additional Paid In Capital
165.62
+0.19%
165.29
+0.27%
164.85
+0.26%
164.42
Retained Earnings
-121.80
-1.95%
-119.47
-1.65%
-117.53
-1.33%
-115.99
Gains Losses Not Affecting Retained Earnings
-1.72
+10.29%
-1.92
-9.55%
-1.75
-1.16%
-1.73
Treasury Stock
2.57
+9.46%
2.35
+4.22%
2.25
+0.00%
2.25
Other Equity Adjustments
-1.72
+10.29%
-1.92
-9.55%
-1.75
-1.16%
-1.73
Total Equity Gross Minority Interest
39.93
-4.82%
41.95
-4.02%
43.71
-2.51%
44.84
Total Capitalization
39.93
-4.82%
41.95
-4.02%
43.71
-2.51%
44.84
Working Capital
25.67
+8.02%
23.76
-27.18%
32.63
+5.07%
31.06
Invested Capital
39.93
-4.82%
41.95
-4.02%
43.71
-2.51%
44.84
Total Debt
0.58
-7.20%
0.62
+1.79%
0.61
+221.47%
0.19
Capital Lease Obligations
0.58
-7.20%
0.62
+1.79%
0.61
+221.47%
0.19
Net Tangible Assets
37.17
-5.93%
39.51
-4.19%
41.24
-2.57%
42.33
Tangible Book Value
37.17
-5.93%
39.51
-4.19%
41.24
-2.57%
42.33
Current Provisions
0.16
+0.00%
0.16
+0.00%
0.16
+0.00%
0.16
Held To Maturity Securities
6.99
-35.71%
10.88
+196.81%
3.66
-42.39%
6.36
Investmentin Financial Assets
6.99
-35.71%
10.88
+196.81%
3.66
-42.39%
6.36
Other Equity Interest
0.08
+0.00%
0.08
+0.00%
0.08
+0.00%
0.08
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
3.02
+187.85%
-3.43
-593.25%
0.70
+116.82%
-4.14
Cash Flow From Continuing Operating Activities
3.02
+187.85%
-3.43
-593.25%
0.70
+116.82%
-4.14
Net Income From Continuing Operations
-2.32
-19.61%
-1.94
-26.33%
-1.54
-6.66%
-1.44
Depreciation Amortization Depletion
0.70
+51.96%
0.46
+34.50%
0.34
-22.27%
0.44
Depreciation
0.66
+64.52%
0.40
+43.42%
0.28
-20.17%
0.35
Amortization Cash Flow
0.04
-36.84%
0.06
-6.56%
0.06
-30.68%
0.09
Depreciation And Amortization
0.70
+51.96%
0.46
+34.50%
0.34
-22.27%
0.44
Amortization Of Intangibles
0.04
-36.84%
0.06
-6.56%
0.06
-30.68%
0.09
Other Non Cash Items
-0.06
+53.03%
-0.13
+69.52%
-0.43
-8560.00%
-0.01
Stock Based Compensation
0.33
-26.91%
0.45
+14.65%
0.39
+73.66%
0.22
Provisionand Write Offof Assets
0.00
+100.00%
-0.00
0.00
+100.00%
-0.11
Deferred Tax
0.01
+175.00%
0.00
+180.00%
-0.01
-113.16%
0.04
Deferred Income Tax
0.01
+175.00%
0.00
+180.00%
-0.01
-113.16%
0.04
Operating Gains Losses
0.00
—
0.01
—
Gain Loss On Sale Of PPE
0.00
0.00
-100.00%
0.01
0.00
Change In Working Capital
4.36
+292.76%
-2.26
-217.24%
1.93
+158.73%
-3.29
Change In Receivables
4.20
+249.61%
-2.80
-369.87%
1.04
+123.36%
-4.45
Changes In Account Receivables
2.52
+323.43%
-1.13
-208.47%
1.04
+123.36%
-4.45
Change In Inventory
0.03
-36.59%
0.04
+189.13%
-0.05
-2.22%
-0.04
Change In Prepaid Assets
-0.17
-158.90%
0.29
+4966.67%
-0.01
+98.09%
-0.31
Change In Payables And Accrued Expense
0.32
+52.17%
0.21
-78.07%
0.94
-37.85%
1.52
Change In Accrued Expense
0.06
+118.27%
-0.31
-125.18%
1.24
+244.17%
0.36
Change In Payable
0.26
-50.29%
0.52
+275.93%
-0.29
-125.45%
1.16
Change In Account Payable
0.26
-50.29%
0.52
+275.93%
-0.29
-125.45%
1.16
Investing Cash Flow
0.55
+110.01%
-5.44
+15.53%
-6.44
+32.05%
-9.48
Cash Flow From Continuing Investing Activities
0.55
+110.01%
-5.44
+15.53%
-6.44
+32.05%
-9.48
Net PPE Purchase And Sale
-0.67
-78.31%
-0.38
+9.57%
-0.42
-102.91%
-0.21
Purchase Of PPE
-0.67
-78.31%
-0.38
+9.57%
-0.42
-102.91%
-0.21
Capital Expenditure
-0.67
-78.31%
-0.38
+9.57%
-0.42
-102.91%
-0.21
Net Investment Purchase And Sale
1.22
+124.07%
-5.07
+15.95%
-6.03
+35.04%
-9.28
Purchase Of Investment
-12.03
+33.38%
-18.06
-28.76%
-14.03
-43.46%
-9.78
Sale Of Investment
13.25
+1.96%
12.99
+62.44%
8.00
+1500.00%
0.50
Financing Cash Flow
-0.22
-133.68%
-0.10
-326.19%
0.04
+347.06%
-0.02
Cash Flow From Continuing Financing Activities
-0.22
-133.68%
-0.10
-326.19%
0.04
+347.06%
-0.02
Net Issuance Payments Of Debt
—
—
—
—
Issuance Of Debt
—
—
—
—
Long Term Debt Issuance
—
—
—
—
Net Long Term Debt Issuance
—
—
—
—
Net Common Stock Issuance
—
—
—
0.00
Proceeds From Stock Option Exercised
—
0.00
-100.00%
0.04
0.00
Net Other Financing Charges
-0.22
-133.68%
-0.10
—
-0.02
Changes In Cash
3.34
+137.22%
-8.97
-57.22%
-5.71
+58.16%
-13.64
Effect Of Exchange Rate Changes
0.09
+192.78%
-0.10
-120.45%
-0.04
+49.43%
-0.09
Beginning Cash Position
8.51
-51.59%
17.58
-24.65%
23.33
-37.04%
37.05
End Cash Position
11.94
+40.29%
8.51
-51.59%
17.58
-24.65%
23.33
Free Cash Flow
2.34
+161.45%
-3.81
-1470.86%
0.28
+106.40%
-4.34
Income Tax Paid Supplemental Data
0.01
-78.85%
0.05
+333.33%
0.01
-14.29%
0.01
Common Stock Issuance
—
—
—
0.00
Issuance Of Capital Stock
—
—
—
0.00
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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